That's an impressive improvement over your last Street Fighter drawings! The poses and muscles look a lot more natural and you did a good job with the shading as well. Makoto is probably my favorite out of them all. The way the belt, scarf(?) and gi are drawn simulate the motion well and of course the shading helps immensely.

As for possible improvements, some characters like Ken and Ibuki's eyes seem a little off. Ryu's right toes also looks strange as well. They're all the same size and length. These are just small nitpicks though and don't really detract from the overall picture.

On a random note. I've never played Street Fighter III before but whoever came up with the design of Gill...I'm not even entirely sure what to say. He's quite fabulous. 

The shading really does the trick, wow! Also, you took your time to colour everything this time and it doesn't look rushed at all   Hope to see this new colouring style in future LBT drawings too, yep, yep, yep!